In this episode of Moral Mayhem, we stick up for those without a voice — bankers and hedge fund managers. We explore why middle men and financiers - from ancient moneylenders to modern hedge funds - are unique objects of scorn in the eyes of the public. We discuss the ethics of payday lending and consumer credit, the social value of public markets, positive externalities of active management and the oft-repeated claim that finance “sucks up too much talent”. In our introductory segment, we discuss Shrimp Welfare — a recently trending topic on Substack and the assumptions that underpin the Effective Altruism movement.

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